Demand for FX derivatives jumps as central banks prep rate rises- CME Group



LONDON, Aug 10 (Reuters) - Demand for currency derivatives has shot up this year, data from CME Group showed on Wednesday, in a sign investors are positioning for hefty interest rate hikes from the U.S. Federal Reserve and other big central banks.

"Open interest" -- the number of outstanding futures and options -- was at $272.5 billion at the end of July, up 8.8% year-on-year, according to CME, the world's largest financial derivatives exchange.

Large open interest positions reached a record high of 1,312 contracts in May, easing to 1,192 in July, CME said in a release seen by Reuters.

The rise was attributed to financial markets bracing for aggressive monetary tightening as central banks try to curb the biggest inflation surge in decades, the Chicago-based CME said.

May's open interest surge came just ahead of the Fed's 75 basis points (bps) interest rate rise in June.

The U.S. central bank also raised rates by 75 bps in July -- a month when the Bank of Canada also delivered a 100 bps increase and the European Central Bank kicked off its first monetary tightening cycle in more than a decade with a 50 bps move.

CME Group senior economist Erik Norland said "conditions are ripe for larger-than-expected (rate) increases, which market participants are clearly preparing for."

Currency markets have witnessed big moves in recent months, with the dollar index, for instance, rising 6.6% in the April-June period, the biggest quarterly gain since end-2016 =USD .

Average daily trading volumes in CME currency futures was 32% higher in July versus year-ago levels, CME data showed, led by a jump of around 43% in euro futures and roughly 60% in yen.
Reporting by Dhara Ranasinghe; editing by Sujata Rao and Jane Merriman

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明